Electricity tariffs to fall for next 3 months

Singapore: Electricity tariffs will come down for the next three months due to a drop in the cost of natural gas, SP Group said on Friday (Jun 30).

The tariff will decrease by an average of 3.2 per cent or 0.67 cent per kWh for the Jul 1 to Sep 30 period. For households, the electricity tariff will fall from 21.39 to 20.72 cents per kWh during this period.

This means that the average monthly electricity bill for families living in four-room Housing Board flats will decrease by S$2.55.

The reduction is due to the lower cost of natural gas for electricity generation, which fell by 7.5 per cent compared to the previous quarter, SP Group said.

SP Group reviews the electricity tariffs quarterly based on guidelines set by the Energy Market Authority (EMA), the electricity industry regulator. The latest tariffs have been approved by the EMA.